EFG Asset Management North America Corp. Sells 48,929 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• EFG Asset Management North America Corp. sold 48,929 shares of Chipotle Mexican Grill, reducing its position by 62.5%, leaving it with 29,373 shares valued at approximately $1.475 million.
• Key analysts have recently adjusted their target prices for Chipotle Mexican Grill, with revisions from $60.00 to $58.00, and others upgrading ratings to "strong-buy".
• Chipotle reported a net margin of 13.32% and a revenue increase of 3.0% year-over-year, posting earnings of $0.33 per share, slightly above analyst expectations.

EFG Asset Management North America Corp. lessened its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 62.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,373 shares of the restaurant operator's stock after selling 48,929 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Chipotle Mexican Grill were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Chipotle Mexican Grill by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock worth $450,868,000 after purchasing an additional 491,002 shares in the last quarter. Corient IA LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $753,000. Banco Santander S.A. raised its position in shares of Chipotle Mexican Grill by 47.6% during the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock worth $1,595,000 after acquiring an additional 10,246 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Chipotle Mexican Grill by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator's stock worth $3,784,000 after acquiring an additional 18,458 shares during the last quarter. Finally, Community Trust & Investment Co. bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth $7,773,000. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Trading Down 0.8%

NYSE:CMG traded down $0.32 on Tuesday, hitting $39.34. The company's stock had a trading volume of 6,518,725 shares, compared to its average volume of 14,370,617. The firm has a market capitalization of $52.74 billion, a P/E ratio of 35.08, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02. Chipotle Mexican Grill, Inc. has a one year low of $39.23 and a one year high of $66.74. The stock has a fifty day moving average of $47.01 and a two-hundred day moving average of $49.45.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Analyst Ratings Changes

CMG has been the subject of a number of recent analyst reports. Robert W. Baird dropped their price objective on Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Rothschild & Co Redburn raised Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Wednesday, September 3rd. Melius assumed coverage on Chipotle Mexican Grill in a research note on Monday, July 14th. They issued a "hold" rating and a $60.00 target price for the company. TD Securities reissued a "buy" rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. reduced their price objective on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $59.76.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.